[KVA]nRSIThe nRSI stands as a groundbreaking enhancement of the traditional Relative Strength Index (RSI), specifically engineered for traders seeking a more refined and accurate tool in fast-moving markets.
Customizable Price Change Period (n): Unlike the traditional RSI which solely relies on a fixed period for average gains and losses, the nRSI introduces an additional parameter, n, to calculate price changes.
This adaptation focuses on minimizing market noise, sharpening the indicator's sensitivity to genuine trends and patterns.
Enhanced Signal Precision : By reducing the influence of short-term price spikes and fluctuations, the nRSI delivers a more precise signal. This precision is particularly crucial in volatile market conditions, where traditional indicators may be swayed by transient movements.
Ideal Usage
Strategic Trading Decisions : Ideal for traders who need to filter out insignificant price movements to make more strategic, informed trading decisions.
Reliable Divergence Spotting : Enhanced noise reduction aids in identifying more reliable divergences, key for predicting potential market reversals.
Trend Confirmation : The smoothed RSI, assisted by the moving average, becomes an invaluable tool for confirming the validity of market trends, minimizing false signals.
Rsi_overbought
RSI + FIB HH LL StopLoss Finder／Contrarian TradesThis indicator is a multi-timeframe indicator that works in any timeframe.
It takes a price reading of the highest or lowest bar in the past based on Fibonacci numbers and plots it.
In addition, the RSI smoothed by a 5-day moving average can be used to detect signs that previous highs or lows will be reached in advance.
This gives insight into determining stop-loss values or entering the market in a contrarian manner.
This is an example of BTCUSDT 4Hour Chart
Here is BTCUSDT 1Hour Chart
For scalpers BTCUSDT 15min Chart Example
Fibonacci Number is 1, 1, 2, 3, 5, 8, 13, 21, 34, 55, 89, 144, 233, 377, 610, 987, 1597, ...
FIbonacci Ratio is 0.236, 0.382, 0.5, 0.618, 1, 1.618, 2.618, 4.236, ...
Laguerre RSI - non repaintingIt seems that the traditional Laguerre* functions repaint due to the gamma parameter.
That goes even for the editorial pick here.
But one could use calculation period instead of "gamma" parameter. This gives us a non-repainting Laguerre RSI fit for scalping trends.
At first glance, I haven't seen anyone do this with a pine script, but I could be wrong because it's not a big deal.
So here is a variation of Laguerre RSI, without repainting. It's a little bit more insensitive, but this is not of great importance, since only the extreme values are used for confirmation.
( * Laguerre RSI is based on John EHLERS' Laguerre Filter to avoid the noise of RSI.)
And if you implement this indicator into a strategy (like I do) I can give you a trick.
Traditionaly the condition is at follows:
LaRSI = cd == 0 ? 100 : cu / (cu + cd)
(this is the final part of the indicator before the plotting)
LongLaguerre= LaRSIupb
It's fine for the short (ot exit long), but for the long is better to make a swich between the CD and CU parameters, as follows:
LaRSI1 = cd == 0 ? 100 : cu / (cu + cd)
LaRSI2 = cu == 0 ? 100 : cu / (cu + cd)
LongLaguerre= LaRSI2upb
Based RSI (BullDozz)Installation: To use this script, open TradingView and create a new Pine Script strategy. You can paste the code provided into the Pine Script editor.
Customizable Inputs: The script includes various input parameters that you can customize to fit your trading preferences. These parameters are defined using the input function and include values like length, TPPercent, and others. You can adjust these values based on your trading strategy.
Strategy Signals: The script generates buy and sell signals based on the conditions specified in the buySignal and sellSignal variables. These signals are derived from the analysis of the oscillator (osc) and the Relative Strength Index (rsi). When a buy signal occurs, the script enters a long position, and when a sell signal occurs, it enters a short position.
Take Profit: The script includes a take profit feature (useTP) that allows you to enable or disable take profit orders. When enabled, it calculates take profit levels based on the specified percent (TPPercent) and attaches them to the open positions.
Plotting: The script also visualizes the oscillator (osc) and a midline (0) on the chart using histogram-style bars. The colors of these bars change based on the oscillator's direction.
Volume Based RSI with ADXThe RSI indicator is a powerful tool that utilizes both volume and time to determine market trends. When there is a low volume of trades in a short period of time, but the trading activity is high, it is considered bullish or bearish. In the case of a bullish trend, the RSI indicator will display a green color, while a bearish trend will be represented by a red color. If there is no trading activity, the indicator will display a gray color. Additionally, if the ADX level meets the threshold level, the indicator will display a blue color. However, if the ADX level does not meet the threshold level, the indicator will revert back to displaying a gray color.
RSI Screener Multi Timeframe [5ema]This indicator is the simple version of my indicator: RSI Screener and Divergence .
Only show table with values, signals at 5 custom timeframes.
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I reused some functions, made by (i believe that):
©paaax: The table position function.
@kingthies: The RSI divergence function.
@QuantNomad: The function calculated value and array screener for 40+ instruments.
I have commented in my code. Thanks so much!
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How it works:
1. Input :
Length of RSI => calculate RSI.
Upper/lower => checking RSI overbought/oversold.
Right bars / left bars => returns price of the pivot low & high point => checking divergence.
Range upper / lower bars => compare the low & high point => checking divergence.
Timeframe => request.security another time frame.
Table position => display screener table.
2. Input bool:
Regular Bearish divergence.
Hidden Bullish divergence .
Hidden Bearish divergence.
3. Basic calculated:
Make function for RSI , pivot low & high point of RSI and price.
Request.security that function for earch time frame.
Result RSI, Divergence.
4. Condition of signal:
Buy condition:
RSI oversold (1)
Bullish divergence (2).
=> Buy if (1) and (2), review buy (1) or (2).
Sell condition:
RSI overbought (3).
Bearish divergence (4).
=> Sell if (3) and (4), review sell (3) or (4).
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Table screener:
Time frame.
RSI (green - oversold, red - overbought)
Divergence (>> - regular bullish , << regular bearish , > - hidden bullish , < - hidden bearish ).
Signal (green ⦿ - Buy, red ⦿ - Sell, green 〇 - review buy, red 〇 - review sell).
- Regular Bearish divergence:
- Regular Bullish divergence:
- Regular Bullish divergence + RSI overSold
- Regular Bearish divergence + RSI overBought
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This indicator is for reference only, you need your own method and strategy.
If you have any questions, please let me know in the comments.
Good Mode RSI v2► Description:
"Good Mode RSI v2" is a powerful trading strategy designed to provide informed trading decisions. This script utilizes the popular RSI (Relative Strength Index) indicator to identify potential buying and selling opportunities in the market. It goes beyond the traditional use of RSI by incorporating carefully selected parameters to enhance its effectiveness. The strategy stands out for its customized combination of RSI levels and stop-loss/take-profit thresholds, allowing for precise trade entries and exits while effectively managing risk.
► How to Use:
To utilize the "Good Mode RSI v2" strategy, follow these steps:
1. Apply the script to your desired trading instrument and timeframe in TradingView.
2. Monitor the chart for trade signals generated by the strategy.
3. When the RSI reaches the sell level of 96, a sell signal is generated. Consider placing a sell order to take advantage of potential downward price movements.
4. take-profit level at 60 to secure profits in a strong downtrend.
5. When the RSI drops below the buy level of 4, a buy signal is generated. Consider placing a buy order to enter the market at a favorable price.
6. take-profit level at 30 to secure profits in a strong uptrend.
7. Monitor the RSI indicator on the chart to stay updated on its current value and anticipate potential trade signals.
Please note that trading decisions should be made based on a comprehensive analysis of multiple factors, including market conditions, trend analysis, and risk management. The "Good Mode RSI v2" strategy can serve as a valuable tool in your trading journey, but it should be used in conjunction with your own research and analysis.
► About it:
The "Good Mode RSI v2" strategy is not a mere replication or slight modification of existing strategies or indicators. It has been carefully crafted to provide traders with an original and purposeful approach to trading using the RSI indicator. The strategy's unique configuration of RSI levels and stop-loss/take-profit thresholds allows for improved performance and profitability. Backtesting results have shown impressive metrics, including a gain factor of 2.445 and a compelling profitability of 78.07% during the testing period.
► Referrals:
If you have any questions or need further assistance with the "Good Mode RSI v2" strategy, feel free to ask. Good luck with your trading endeavors!
12&50 RSI + %R2/50 RSI+ %R is a PineScript indicator that combines two popular technical indicators, the Relative Strength Index (RSI) and the Williams %R. The indicator plots two lines, K and D, which represent the smoothed moving averages of the RSI. It also plots the RSI with a 60-period length and the Williams %R with a 21-period length. The indicator can be used to identify overbought and oversold conditions, as well as potential reversals.
Here are some of the key features of the script:
It uses two different RSI lengths to provide a more comprehensive view of the market.
It plots the Williams %R, which can be used to identify overbought and oversold conditions.
It includes overbought and oversold levels to help traders identify potential entry and exit points.
*Zig Zag Price, % Change w/RSI*With immense help from ©SimpleCryptoLife who reimagined this script for me, and to ©mmoiwgg and ©ocaptain who's ideas led to this updated version 5.
This indicator is fairly straight-forward and visually appealing because you get a running zig zag price, price % change with an added bonus - RSI. However you won't find zig zag lines but the script reacts the same by changing the inputs. The higher the value the less data points you'll see on the screen.
The main objective of this indicator is to be able to spot high and low prices easily with the price % change between the same 2 data sets. Additionally and arguably more importantly, with the RSI values associated with the high and low prices, you can spot divergences easily - meaning the price is making a higher high while conversely the RSI value at the next pop (around the same price as previous high) is lower which can mean that momentum has exhausted for the time being and a reversal could be imminent.
This script is meant only as a tool to try to enrich your trading journey and I hope it helps you become a more consistent and profitable trader. If you find it invaluable drop a like and comment. Good luck!
MTF Smoothable RSI Nexus [DarkWaveAlgo]🧾 Description:
A nexus is a connection, link, or neuronal junction where signals and information are transmitted between different elements.
The MTF Smoothable RSI Nexus indicator serves as a nexus between smoothable, MTF RSIs by facilitating the visualization and interaction of up to six multi-timeframe RSIs, each with its own customizable timeframe, period, coloring customization, and price source. By combining these various RSIs, it helps you create a comprehensive view of MTF momentum trends and dynamics.
It acts as a control center that brings together multiple MTF RSIs and allows you to visualize the interactions between them with exceptional ease-of-use and customizability, helping to provide you with valuable insights into potential trend reversals, momentum shifts, and trading opportunities.
💡 Originality and Usefulness:
While there are other multi-timeframe RSI indicators available, MTF Smoothable RSI Nexus' global smoothing settings offer a flexible take on the development of price momentum across various timeframes. Its semi-transparent overbought and oversold fill zones create a compounding opaqueness when RSIs from multiple timeframes coalesce - making visual assessment of momentum extremes incredibly easy. We also believe it stands above the rest with its sheer quantity and quality of settings, features, and usability.
✔️ Re-Published to Avoid Misleading Values
This script has been re-published to ensure that it does not use `request.security()` calls using lookahead_on to access future data when referencing RSIs from other timeframes. This decreases the likelihood that the indicator will provide deceiving values. This change has been made in accordance with the PineScript documentation: "Using barmerge.lookahead_on at timeframes higher than the chart's without offsetting the `expression` argument like in `close [ ]` will introduce future leak in scripts, as the function will then return the `close` price before it is actually known in the current context" and the Publishing Rule: "Do not use `request.security()` calls using lookahead to access future data". Historical and real-time values may differ when referencing timeframes other than the chart's.
💠 Features:
6 toggleable MTF Smoothable RSIs with customizable timeframes, periods, and price sources
Compounding overbought/oversold filled areas for easy MTF momentum analysis
Aesthetic and flexible coloring and color theme styling options
End-of chart labels and options for ease-of-use and legibility
⚙️ Settings:
Use a Color Theme: When this setting is enabled, all manual 'Bullish and Bearish Colors' are overridden. All plots will use the colors from your selected Color Theme - excepting those plots set to use the 'Single Color' coloring method.
Color Theme: When 'Use a Color Theme' is enabled, this setting allows you to select the color theme you wish to use.
Hide RSIs on Timeframes Lower Than the Chart: When this setting is enabled, any MTF RSI with a timeframe smaller than that of the chart the indicator is applied to will be hidden from view.
Overbought Level: Set the level value for the overbought line.
Oversold Level: Set the level value for the oversold line.
Overbought Color: When 'Use a Color Theme' is disabled, this will set the color for the Overbought Level line.
Oversold Color: When 'Use a Color Theme' is disabled, this will set the color for the Oversold Level line.
Fill Overbought/Oversold Areas: When enabled, the area between any MTF RSI and the Overbought/Oversold level will be filled with semi-transparent coloring if that RSI is above/below the respective level.
Smooth RSIs: When enabled, all MTF RSIs will be processed through an additional smoothing average calculation.
Smoothing Type: Set the calculation type for the smoothing process. Options include: Exponential, Simple, Weighted, Volume-Weighted, and Hull.
Enable: Show/hide a specific MTF RSI.
Timeframe: Set the timeframe for a specific MTF RSI.
Period: Set the lookback period for a specific MTF RSI.
Source Price: Set the source value used for a specific MTF RSI's calculation.
Coloring Method: Set the coloring method for this specific RSI. The coloring method defines how the RSI should be dynamically colored. Options include: 'Single Color' and 'Increasing/Decreasing'.
Bullish Color: When 'Use a Color Theme' is disabled, this will set the 'bullish color' for this specific MTF RSI.
Bearish Color: When 'Use a Color Theme' is disabled, this will set the 'bearish color' for this specific MTF RSI.
Single Color: When the 'Coloring Method' is set to Single Color for this specific RSI, this color option will set the RSI's color.
Enable Label: When enabled, a label will show at the end of the chart displaying the timeframe, period, smoothing type (if any), and current price value of this specific MTF RSI.
Size: Sets the font size of this specific MTF RSI's label.
Label Offset (in Bars): Sets the distance from the latest bar, in bars, at which this specific MTF RSI's label is displayed.
Show Label Line: When enabled, this specific MTF RSI's label will be accommodated by a dashed line connecting it to its plot.
📈 Chart:
The chart shown in this original publication displays the 15 minute chart on ETHUSDT. Displayed on the chart are 4 MTF RSIs: the 15m 14 WMA-Smoothed RSI, 1h 14 WMA-Smoothed RSI, 4h 14 WMA-Smoothed RSI, and the 1D 14 WMA-Smoothed RSI - offering an exemplary view of how you can easily use these MTF RSIs to your advantage in analyzing momentum relationship across multiple timeframes.
RSI Primed [ChartPrime]
RSI Primed combines candlesticks, patterns, and the classic RSI indicator for advanced market trend indications
Introduction
Technical traders are always looking for innovative methods to pinpoint potential entry and exit points in the market. The RSI Prime indicator provides such traders with an enhanced view of market conditions by combining various charting styles and the Relative Strength Index (RSI). It offers users a unique perspective on the market trends and price momentum, enabling them to make better-informed decisions and stay ahead of the market curve.
The RSI Primed is a versatile indicator that combines different charting styles with the Relative Strength Index (RSI) to help traders analyze market trends and price momentum. It offers multiple visualization modes that serve specific purposes and provide unique insights into market performance:
Regular Candlesticks
Candlesticks with Patterns
Heikin Ashi Candles
Line Style
Regular Candlestick Mode
The Regular Candlestick Mode in RSI Primed depicts traditional Japanese candlesticks that most traders are familiar with. This mode bypasses any smoothing or modified calculations, representing real-price movements. Regular candlesticks offer a clear and straightforward way to visualize market trends and price action.
Candlestick with Patterns Mode
The Candlestick with Patterns Mode focuses on identifying high-probability candlestick patterns while incorporating RSI values. By leveraging the information captured by the RSI, this mode allows traders to spot significant market reversals or continuation patterns that could signal potential trading opportunities. Some recognizable patterns include engulfing bullish, engulfing bearish, morning star bullish, and evening star bearish patterns.
Heikin Ashi Candles Mode
The Heikin Ashi Candles Mode presents an advanced candlestick charting technique known for its excellent trend-following capabilities. Heikin Ashi Candles filter out noise in the market and provide a clear representation of market trends. In this mode, candlesticks are plotted based on RSI values of the open, high, low, and close prices, helping traders understand and utilize market trends effectively.
Line Style Mode
The Line Style Mode offers a simpler and minimalistic representation of the RSI values by using a line instead of candlesticks to visualize market trends. This mode helps traders focus on the overall trend direction and eliminates potential distractions caused by the complexity of candlestick patterns.
Candle Color Overlay Mode
The Candle Color Overlay Mode is a unique feature in the RSI Primed indicator that allows traders to visualize the RSI values on the chart's candles as a heat gradient. This mode adds a color overlay to the candlesticks, representing the RSI values in relation to the candlesticks' price action.
By displaying the RSI as a color gradient, traders can quickly assess market momentum and identify overbought or oversold conditions without having to switch between different modes or charts. The gradient ranges from cool colors (blue and green) for lower RSI values, indicating oversold conditions, to warm colors (orange and red) for higher RSI values, signifying overbought situations.
To enable the Candle Color Overlay Mode, traders can toggle the "Color Candles" option in the indicator settings. Once enabled, the color gradient will be applied to the candlesticks on the chart, providing a visually striking and informative representation of the RSI values in relation to price action. This mode can be used in tandem with any of the other charting styles, allowing traders to gain even more insights into market trends and momentum.
RSI Primed Implementation
The RSI Primed indicator combines the benefits of various charting styles with the RSI to help traders gain a comprehensive view of market trends and price momentum. It incorporates the Heikin Ashi and RSI values as inputs to generate several visualization modes, enabling traders to select the one that best suits their needs.
Chebyshev Digital Audio Filter in RSI Primed Indicator
A unique feature of the RSI Primed Indicator is the incorporation of the Chebyshev Digital Audio Filter, a powerful tool that significantly influences the indicator's accuracy and responsiveness. This signal processing method brings several benefits to the context of the RSI indicator, improving its performance and capabilities.
1. Improved Signal Filtering
The Chebyshev filter excels in its ability to remove high-frequency noise and unwanted signals from the RSI data. While other filtering techniques might introduce unwanted side effects or distort the RSI data, the Chebyshev filter accurately retains the main signal components, enhancing the RSI Primed's overall accuracy and reliability.
2. Faster Response Time
The Chebyshev filter offers a faster response time than most other filtering techniques. In the context of the RSI Primed Indicator, this means that the filtering process is quicker and more efficient, allowing traders to act swiftly during rapidly changing market conditions.
3. Enhanced Trend Detection
By effectively removing noise from the RSI data, the Chebyshev filter contributes to the enhanced detection of underlying market trends. This feature helps traders identify potential entry and exit points more accurately, improving their overall trading strategy and performance.
How to Use RSI Primed
Traders can choose from different visualization modes to suit their preferences while using the RSI Primed indicator. By closely monitoring the chosen visualization mode and the position of the moving average, traders can make informed decisions about market trends.
Green candlesticks or an upward line slope indicate a bullish trend, and red candlesticks or a downward line slope suggest a bearish trend. If the candles or line are above the moving average, it could signify an uptrend, whereas a position below the moving average may indicate a downtrend.
The RSI Primed indicator offers a unique and comprehensive perspective on market trends and price momentum by combining various charting styles with the RSI. Traders can choose from different visualization modes and make well-informed decisions to capitalize on market opportunities. This innovative indicator provides a clear and concise view of the market, enabling traders to make swift decisions and enhance their trading results.
RSI of Zero Lag MA (ValueRay)The RSI of a Zero Lag Moving Average a powerful tool for for reliable exit signals.
The Relative Strength Index (RSI) is a widely recognized momentum oscillator that measures the speed and change of price movements. It provides valuable insights into overbought and oversold conditions, enabling traders to identify potential reversal points and take advantage of market inefficiencies.
The RSI of a Zero Lag Indicator takes this concept a step further by incorporating the Zero Lag Moving Average. The Zero Lag Moving Average is a cutting-edge indicator that minimizes lag and provides a smoother representation of price action, allowing for quicker and more precise responses to market movements.
By combining the RSI with the Zero Lag Moving Average, this indicator offers traders a superior exit strategy. When the RSI reaches extreme levels of overbought or oversold conditions, it indicates a potential reversal in the market. The Zero Lag Moving Average further enhances this signal by reducing delays and providing timely exit points.
Moreover, the RSI of a Zero Lag Indicator is not limited to mean reversion strategies. While it excels in identifying mean reversion opportunities, it can also be used in conjunction with other trading approaches. Traders can take advantage of its objective signals to exit trades profitably, regardless of their chosen strategy.
With its ability to accurately pinpoint overbought and oversold conditions, the RSI of a Zero Lag Indicator offers traders a competitive edge in the market. By providing timely exit signals and minimizing lag, it helps traders optimize their trading decisions and increase their chances of success.
RSI Divergences on price chart - Open Source CodeHello Traders,
I have some exciting news to share with you all! Recently, I came across an incredible RSI divergences indicator developed by Socrate_FR. This indicator, in my opinion has an exceptional accuracy in detecting RSI divergences. However, during my exploration of other indicators in the TradingView library that display signals on the price chart, I found that many of them were often unreliable and missed out on important divergences.One such example is the Prices / RSI Divergences Detector by vtllr. Although vtllr did an amazing job with the indicator, I noticed that it didn't capture several relevant divergences accurately.
This observation inspired me to enhance the most accurate RSI divergences indicator available by showcasing the signals directly on the price chart. By doing so, I aimed to address the issue of unreliable and missed divergences in other price chart indicators. With this enhanced version, you can now effortlessly identify and track RSI regular divergences on the price chart itself:
-Regular bullish divergence occurs when the price forms lower lows while the RSI indicator forms higher lows. It suggests a potential bullish reversal (green line plot)
-Regular bearish divergence occurs when the price forms higher highs while the RSI indicator forms lower highs. It suggests a potential bearish reversal (red line plot)
Another key mofication:
This Indicator introduces a simpler approach compared to the original Socrate indicator. While Socrate differentiated divergences into eight types for both bullish and bearish scenarios, our enhanced version focuses on two distinct categories: small and big divergences. This decision was made to provide a clearer and more user-friendly experience. By condensing the divergence types into two groups, traders can easily identify and analyze the significance of the divergences without getting overwhelmed by excessive variations. The small divergences represent relatively minor divergences, while the big divergences indicate stronger and more significant signals.
-Small divergences represent relatively minor divergences (plotshape small circle)
-Big divergences indicate stronger signals (plotshape big circle)
I firmly believe that this enhanced RSI Divergences Indicator will be an invaluable tool for traders who rely on RSI analysis in their trading strategies. It combines the accuracy of Socrate_FR's original indicator with the enhanced visibility of signals on the price chart, ensuring you never miss any important divergences.
If you're interested in trying out this enhanced version of the indicator, please feel free to access the open-source code. If you want to visit and try the original version of the code visit Socrate_FR profile.
www.tradingview.com
Keep attention!
It is important to note that no trading indicator or strategy is foolproof, and there is always a risk of losses in trading. While this indicator may provide useful information for making conclusions, it should not be used as the sole basis for making trading decisions. Traders should always use proper risk management techniques and consider multiple factors when making trading decisions.
Support us:)
If you find this new indicator helpful in your trading analysis, I would greatly appreciate your support! Please consider to follow, giving it a like, leaving feedback, or sharing it with your trading network. Your engagement will not only help me improve this tool but will also help other traders discover it and benefit from its features. Thank you for your support!
Premium MTF Layered RSI - Bitcoin Bot [wbburgin]This the premium version of my MTF Layered RSI strategy, which improves significantly on the original strategy (publicly available on my profile). Improvements are below. This strategy will also appear as an overlay on your chart. It is completely non-repainting.
The MTF Layered RSI strategy uses the current timeframe and two configurable higher timeframes to enter a long position when Bitcoin is oversold on all three timeframes, and exit the long position when Bitcoin is overbought on the current timeframe. This hedges against situations where the RSI on higher timeframes never reaches the overbought level and we are left "holding the bag" so to speak with the classic "enter long at oversold and enter short at overbought" strategy.
IMPORTANT: This strategy does not work on ranges. It will work on all timeframes and assets, but does not work on ranges (Renko blocks and some other advanced types of charts).
********** My Background
I am an investor, trader, and entrepreneur with 10 years of cryptocurrency and equity trading experience and founder of two fintech startups. I am a graduate of a prestigious university in the United States and carry broad and inclusive interests in mathematical finance, computer science, machine learning / artificial intelligence, as well as other fields.
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Improvements over the original MTF RSI strategy include:
Filters for Uptrends and Downtrends → The Premium RSI strategy will adjust its buy and sell thresholds depending on whether the instrument is trending. This means that, in uptrends, the Premium strategy will buy more frequently, bringing in potentially greater profit, and in downtrends, the strategy will stop buying altogether. These filters and dynamic buy/sell thresholds have made this strategy more profitable in my backtesting across random timeframes, but I cannot guarantee that the strategy will be profitable for you on the default settings. To that end, I have enabled a number of different configurations that you can change in the settings of the strategy.
Stop Loss / Take Profit Calculation Per Tick → Stop loss and take profit are now both enabled in the script and each has their own alerts. You can specify what type of stop loss or take profit you want: percentage or ATR. If you have alerts configured, you will be alerted mid-bar, instead of at close. This helps prevent loss from abrupt falls in price between closing price and next bar open.
Customizable Alert Messages In-Strategy → In the settings, there will be text boxes where you can create your own alerts. All you will need to do is create an alert in the alert panel on Tradingview and leave the message box blank - if you fill out the alert boxes in the settings, these will automatically populate into your alerts. There are in total eight different customizable alerts messages: Entry, Exit, Stop loss, and Take profit alerts for both Long and Short sides. If you disable stop loss and/or take profit, these alerts will also be disabled. Similarly, if you disable shorts, all short alerts will be disabled.
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Display
Configuring Stop Loss or Take Profit will make their corresponding displays appear.
Separately from the trading boxes, background colors (green, red) signify extended uptrends and downtrends, respectively.
Configuring Alerts
In TradingView desktop, go to the ‘Alerts’ tab on the right panel. Click the “+” button to create a new alert. Select this strategy for the condition and one of the two options that includes alert() function calls. Name the alert what you wish and clear the default message, because your text in the settings will replace this message.
Now that the alert is configured, you can go to the settings of the strategy and fill in your chosen text for the specific alert condition. You will need to check “Long and Short” in the “Trade Direction” setting in order for any Short Alerts to become active. Similarly, you will need to check “Enable Stop Loss” for stop loss alerts to become active and “Enable Take Profit” for take profit alerts to become active.
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Disclaimer
Copyright by wbburgin.
The information contained in my Scripts/Indicators/Algorithms does not constitute financial advice or a solicitation to buy or sell any securities of any type. I will not accept liability for any loss or damage, including without limitation any loss of profit, which may arise directly or indirectly from the use of or reliance on such information.
All investments involve risk, and the past performance of a security, industry, sector, market, financial product, trading strategy, backtest, or individual's trading does not guarantee future results or returns. Investors are fully responsible for any investment decisions they make. Such decisions should be based solely on an evaluation of their financial circumstances, investment objectives, risk tolerance, and liquidity needs.
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Notes on the Strategy Performance below: This is 3% of equity per trade, with a pyramiding number of 3. I did not include fees because Binance US on Bitcoin/USD does not charge fees on the instrument; however, I heavily encourage you to include fees in your backtesting if you use a different brokerage. To mitigate fees, this strategy is designed with a high average %/trade. If your current fees are greater than the strategy's average %/trade, I encourage you to choose a higher RSI period, such as 14 or 28, which will result in less trades but potentially a higher %/trade.
RSI, SRSI, MACD and DMI cross - Open source codeHello,
I'm a passionate trader who has spent years studying technical analysis and exploring different trading strategies. Through my research, I've come to realize that certain indicators are essential tools for conducting accurate market analysis and identifying profitable trading opportunities. In particular, I've found that the RSI, SRSI, MACD cross, and Di cross indicators are crucial for my trading success.
Detailed explanation:
The RSI is a momentum indicator that measures the strength of price movements. It is calculated by comparing the average of gains and losses over a certain period of time. In this indicator, the RSI is calculated based on the close price with a length of 14 periods.
The Stochastic RSI is a combination of the Stochastic Oscillator and the RSI. It is used to identify overbought and oversold conditions of the market. In this indicator, the Stochastic RSI is calculated based on the RSI with a length of 14 periods.
The MACD is a trend-following momentum indicator that shows the relationship between two moving averages of prices. It consists of two lines, the MACD line and the signal line, which are used to generate buy and sell signals. In this indicator, the MACD is calculated based on the close price with fast and slow lengths of 12 and 26 periods, respectively, and a signal length of 9 periods.
The DMI is a trend-following indicator that measures the strength of directional movement in the market. It consists of three lines, the Positive Directional Indicator (+DI), the Negative Directional Indicator (-DI), and the Average Directional Index (ADX), which are used to generate buy and sell signals. In this indicator, the DMI is calculated with a length of 14 periods and an ADX smoothing of 14 periods.
The indicator generates buy signals when certain conditions are met for each of these indicators.
1) For the RSI, a buy signal is generated when the RSI is below or equal to 35 and the Stochastic RSI %K is below or equal to 15, or when the RSI is below or equal to 28 the Stochastic RSI %K is below or equal to 15 or when the RSI is below or equal to 25 and the Stochastic RSI %K is below or equal to 10 or when the RSI is below or equal to 28.
2) For the MACD, a buy signal is generated when the MACD line is below 0, there is a change in the histogram from negative to positive, the MACD line and histogram are negative in the previous period, and the current histogram value is greater than 0.
3) For the DMI, a buy signal is generated when the Positive Directional Indicator (+DI) crosses above the Negative Directional Indicator (-DI), and the -DI is less than the +DI.
The indicator generates sell signals when certain conditions are met for each of these indicators:
1) For the RSI, a sell signal is generated when the RSI is above or equal to 75 and the Stochastic RSI %K is above or equal to 85, or when the RSI is above or equal to 80 and the Stochastic RSI %K is above or equal to 85, or when the RSI is above or equal to 85 and the Stochastic RSI %K is above or equal to 90 or when the RSI is above or equal to 82.
2)For the MACD, a sell signal is generated when the MACD line is above 0, there is a change in the histogram from positive to negative, the MACD line and histogram are positive in the previous period, and the current histogram value is less than the previous histogram value. On the other hand, a buy signal is generated when the MACD line is below 0, there is a change in the histogram from negative to positive, the MACD line and histogram are negative in the previous period, and the current histogram value is greater than the previous histogram value.
3)For the DMI a bearish signal is generated when plusDI crosses above minusDI, indicating that bulls are losing strength and bears are taking control.
The indicator uses a combination of these four indicators to generate potential buy and sell signals. The buy signals are generated when RSI and SRSI values are in oversold conditions, while sell signals are generated when RSI and SRSI values are in overbought conditions. The indicator also uses MACD crossovers and DMI crossovers to generate additional buy and sell signals.
When a signal is strong?
The use of multiple signals within a specific timeframe can increase the accuracy and reliability of the signals generated by this indicator. It is recommended to look for at least two signals within a range of 5-8 candles in order to increase the probability of a successful trade.
Why it's original?
1) There is no indicator in the library that combine all of these indicators and give you a 360 view
2)The combination of the RSI, Stochastic RSI, MACD, and DMI indicators in a single script it's unique and not available in the libray.
3)The specific parameters and conditions used to calculate the signals may be unique and not found in other scripts or libraries.
4)The use of plotshape() to plot the signals as shapes on the chart may be unique compared to other scripts that simply plot lines or bars to indicate signals.
5)The use of alertcondition() to trigger alerts based on the signals may be unique compared to other scripts that do not have custom alert functionality.
Keep attention!
It is important to note that no trading indicator or strategy is foolproof, and there is always a risk of losses in trading. While this indicator may provide useful information for making conclusions, it should not be used as the sole basis for making trading decisions. Traders should always use proper risk management techniques and consider multiple factors when making trading decisions.
Support me:)
If you find this new indicator helpful in your trading analysis, I would greatly appreciate your support! Please consider giving it a like, leaving feedback, or sharing it with your trading network. Your engagement will not only help me improve this tool but will also help other traders discover it and benefit from its features. Thank you for your support!
Trend Momentum SynthesizerBy analyzing the MACD (Moving Average Convergence Divergence) and Squeeze Momentum indicators, this indicator helps identify potential bullish, bearish, or undecided market conditions.
The algorithm within considers the positions of the MACD and Squeeze Momentum indicators to determine the overall market sentiment. When the indicators align and indicate a bullish market condition, the indicator's plot color will be either dark green, green, yellow, or lime, indicating a potential bullish trend. Conversely, if the indicators align and indicate a bearish market condition, the plot color will be maroon or red, denoting a potential bearish trend. When the indicators are inconclusive, the plot color will be orange, suggesting an undecided market.
The ADX is an addon component of this indicator, helping to assess the strength of a trend. By analyzing the ADX, the indicator determines whether a trend is strong enough, providing additional confirmation for potential trade signals. The ADX smoothing and DI (Directional Index) length parameters can be customized to suit individual trading preferences.
By combining these indicators, the algorithm provides traders with a comprehensive view of the market, helping them make informed trading decisions. It aims to assist traders in identifying potential market opportunities and aligns with the objective of maximizing trading performance.
How to use the indicator:
Note: I used back-testing for fine tuning do not base your trades on signals from the testing framework.
JS-TechTrading: Supertrend-Strategy_Basic versionAre you looking for a reliable and profitable algorithmic trading strategy for TradingView? If so, you might be interested in our Supertrend basic strategy, which is based on three powerful indicators: Supertrend (ATR), RSI and EMA.
Supertrend is a trend-following indicator that helps you identify the direction and strength of the market. It also gives you clear signals for entry and exit points based on price movements.
RSI is a momentum indicator that measures the speed and change of price movements. It helps you filter out false signals and avoid overbought or oversold conditions.
EMA is a moving average indicator that smooths out price fluctuations and shows you the long-term trend of the market. It helps you confirm the validity of your trades and avoid trading against the trend.
Our Supertrend basic strategy combines these three indicators to give you a simple yet effective way to trade any market. Here's how it works:
- For long trades, you enter when the price is above Supertrend and pulls back below it (the low of the candle crosses Supertrend) and then rebounds above it (the high of the next candle goes above the pullback candle). You exit when the price closes below Supertrend or when you reach your target profit or stop loss.
- For short trades, you enter when the price is below Supertrend and pulls back above it (the high of the candle crosses Supertrend) and then drops below it (the low of the next candle goes below the pullback candle). You exit when the price closes above Supertrend or when you reach your target profit or stop loss.
- You can also use RSI and EMA filters to improve your results. For long trades, you only enter if RSI is above 50 and price is above 200 EMA. For short trades, you only enter if RSI is below 50 and price is below 200 EMA.
- You can set your stop loss and target profit as a percentage of your entry price or based on other criteria. You can also adjust the parameters of each indicator according to your preferences and risk tolerance.
Our Supertrend basic strategy is easy to use and has been tested on various markets and time frames. It can help you capture consistent profits while minimizing your losses.
Advanced VWAP_Pullback Strategy_Trend-Template QualifierGeneral Description and Unique Features of this Script
Introducing the Advanced VWAP Momentum-Pullback Strategy (long-only) that offers several unique features:
1. Our script/strategy utilizes Mark Minervini's Trend-Template as a qualifier for identifying stocks and other financial securities in confirmed uptrends. Mark Minervini, a 2x US Investment Champion, developed the Trend-Template, which covers eight different and independent characteristics that can be adjusted and optimized in this trend-following strategy to ensure the best results. The strategy will only trigger buy-signals in case the optimized qualifiers are being met.
2. Our strategy is based on the supply/demand balance in the market, making it timeless and effective across all timeframes. Whether you are day trading using 1- or 5-min charts or swing-trading using daily charts, this strategy can be applied and works very well.
3. We have also integrated technical indicators such as the RSI and the MA / VWAP crossover into this strategy to identify low-risk pullback entries in the context of confirmed uptrends. By doing so, the risk profile of this strategy and drawdowns are being reduced to an absolute minimum.
Minervini’s Trend-Template and the ‘Stage-Analysis’ of the Markets
This strategy is a so-called 'long-only' strategy. This means that we only take long positions, short positions are not considered.
The best market environment for such strategies are periods of stable upward trends in the so-called stage 2 - uptrend.
In stable upward trends, we increase our market exposure and risk.
In sideways markets and downward trends or bear markets, we reduce our exposure very quickly or go 100% to cash and wait for the markets to recover and improve. This allows us to avoid major losses and drawdowns.
This simple rule gives us a significant advantage over most undisciplined traders and amateurs!
'The Trend is your Friend'. This is a very old but true quote.
What's behind it???
• 98% of stocks made their biggest gains in a Phase 2 upward trend.
• If a stock is in a stable uptrend, this is evidence that larger institutions are buying the stock sustainably.
• By focusing on stocks that are in a stable uptrend, the chances of profit are significantly increased.
• In a stable uptrend, investors know exactly what to expect from further price developments. This makes it possible to locate low-risk entry points.
The goal is not to buy at the lowest price – the goal is to buy at the right price!
Each stock goes through the same maturity cycle – it starts at stage 1 and ends at stage 4
Stage 1 – Neglect Phase – Consolidation
Stage 2 – Progressive Phase – Accumulation
Stage 3 – Topping Phase – Distribution
Stage 4 – Downtrend – Capitulation
This strategy focuses on identifying stocks in confirmed stage 2 uptrends. This in itself gives us an advantage over long-term investors and less professional traders.
By focusing on stocks in a stage 2 uptrend, we avoid losses in downtrends (stage 4) or less profitable consolidation phases (stages 1 and 3). We are fully invested and put our money to work for us, and we are fully invested when stocks are in their stage 2 uptrends.
But how can we use technical chart analysis to find stocks that are in a stable stage 2 uptrend?
Mark Minervini has developed the so-called 'trend template' for this purpose. This is an essential part of our JS-TechTrading pullback strategy. For our watchlists, only those individual values that meet the tough requirements of Minervini's trend template are eligible.
The Trend Template
• 200d MA increasing over a period of at least 1 month, better 4-5 months or longer
• 150d MA above 200d MA
• 50d MA above 150d MA and 200d MA
• Course above 50d MA, 150d MA and 200d MA
• Ideally, the 50d MA is increasing over at least 1 month
• Price at least 25% above the 52w low
• Price within 25% of 52w high
• High relative strength according to IBD.
NOTE: In this basic version of the script, the Trend-Template has to be used as a separate indicator on TradingView (Public Trend-Template indicators are available in TradingView – community scripts). It is recommended to only execute buy signals in case the stock or financial security is in a stage 2 uptrend, which means that the criteria of the trend-template are fulfilled.
This strategy can be applied to all timeframes from 5 min to daily.
The VWAP Momentum-Pullback Strategy
For the JS-TechTrading VWAP Momentum-Pullback Strategy, only stocks and other financial instruments that meet the selected criteria of Mark Minervini's trend template are recommended for algorithmic trading with this startegy.
A further prerequisite for generating a buy signals is that the individual value is in a short-term oversold state (RSI).
When the selling pressure is over and the continuation of the uptrend can be confirmed by the MA / VWAP crossover after reaching a price low, a buy signal is issued by this strategy.
Stop-loss limits and profit targets can be set variably. You also have the option to make use of the trailing stop exit strategy.
Relative Strength Index (RSI)
The Relative Strength Index (RSI) is a technical indicator developed by Welles Wilder in 1978. The RSI is used to perform a market value analysis and identify the strength of a trend as well as overbought and oversold conditions. The indicator is calculated on a scale from 0 to 100 and shows how much an asset has risen or fallen relative to its own price in recent periods.
The RSI is calculated as the ratio of average profits to average losses over a certain period of time. A high value of the RSI indicates an overbought situation, while a low value indicates an oversold situation. Typically, a value > 70 is considered an overbought threshold and a value < 30 is considered an oversold threshold. A value above 70 signals that a single value may be overvalued and a decrease in price is likely , while a value below 30 signals that a single value may be undervalued and an increase in price is likely.
For example, let's say you're watching a stock XYZ. After a prolonged falling movement, the RSI value of this stock has fallen to 26. This means that the stock is oversold and that it is time for a potential recovery. Therefore, a trader might decide to buy this stock in the hope that it will rise again soon.
The MA / VWAP Crossover Trading Strategy
This strategy combines two popular technical indicators: the Moving Average (MA) and the Volume Weighted Average Price (VWAP). The MA VWAP crossover strategy is used to identify potential trend reversals and entry/exit points in the market.
The VWAP is calculated by taking the average price of an asset for a given period, weighted by the volume traded at each price level. The MA, on the other hand, is calculated by taking the average price of an asset over a specified number of periods. When the MA crosses above the VWAP, it suggests that buying pressure is increasing, and it may be a good time to enter a long position. When the MA crosses below the VWAP, it suggests that selling pressure is increasing, and it may be a good time to exit a long position or enter a short position.
Traders typically use the MA VWAP crossover strategy in conjunction with other technical indicators and fundamental analysis to make more informed trading decisions. As with any trading strategy, it is important to carefully consider the risks and potential rewards before making any trades.
This strategy is applicable to all timeframes and the relevant parameters for the underlying indicators (RSI and MA/VWAP) can be adjusted and optimized as needed.
Backtesting
Backtesting gives outstanding results on all timeframes and drawdowns can be reduced to a minimum level. In this example, the hourly chart for MCFT has been used.
Settings for backtesting are:
- Period from Jan 2020 until March 2023
- Starting capital 100k USD
- Position size = 25% of equity
- 0.01% commission = USD 2.50.- per Trade
- Slippage = 2 ticks
Other comments
- This strategy has been designed to identify the most promising, highest probability entries and trades for each stock or other financial security.
- The combination of the Trend-Template and the RSI qualifiers results in a highly selective strategy which only considers the most promising swing-trading entries. As a result, you will normally only find a low number of trades for each stock or other financial security per year in case you apply this strategy for the daily charts. Shorter timeframes will result in a higher number of trades / year.
- Consequently, traders need to apply this strategy for a full watchlist rather than just one financial security.
Reversal Finder by nnamWhat does this indicator do?
In short, this indicator looks for patterns using Relative Directional Strength and plots potential Reversal Areas on the chart. Candlesticks are shaded by a Gradient. This gradient is based on whether or not the market is currently experiencing a positive or negative sentiment.
In the screenshot below you can see that the market is experiencing positive sentiment, but also shows areas of possible resistance and reversal. The example shows the 1 minute timeframe which is very volatile and can show inconsistent results due to inherent volatility. It is recommended to trade the 15min timeframe or higher.
In the screenshot below we see the candle colors are varied with regards to shading. As moves become "stronger" in a particular direction, the candle colors actually switch from standard red/green to Pink and Yellow. This usually indicates an Oversold or Overbought condition.
In the example below, you can see that if an overbought condition no longer exists and the direction of the movement changes, a plotted arrow and line appear on the chart. This indicates a "potential" resistance or support area and "possibly" a reversal in price. (during strong trends, these are usually simple pullback areas and not reversals).
As seen in the screenshot below, an option to extend the lines is included (disabled by default in the settings). Turning this option ON allows the trader to better visualize potential resistance / support areas on the chart by extending the lines to the right.
Used in conjunction with other indicators, this indicator becomes a powerful confirmation tool for your arsenal.
Many settings are fully customizable including gradient color, bar color, line width etc.
I hope you enjoy the indicator and... HAPPY TRADING!
Easy RSI by nnamWhat Does this Indicator Do?
The Easy RSI Indicator color codes candles based on their RSI Value vs. Open / Close (Red / Green). It plots the current price and current RSI value on the chart in real-time. Additionally, when the RSI Value is in an oversold or overbought condition, it plots that signal on the chart in real-time.
The initial candle color is the standard Red / Green Tradingview color, but a Gradient is added to the color which either darkens or lightens the color based on the RSI Value.
As seen in the screenshot below, the higher the RSI Value, the brighter the Green Color is. The lower the RSI Value, the brighter the Red Color is.
The current Price and current RSI Value are both plotted on the chart by default, but can be optionally switched off by the trader.
As seen in the screenshot below, the prices and RSI Values are easily seen while visually tracking the price in real-time.
RSI Overbought Values are plotted when the Overbought condition is triggered. The Default is RED for Overbought and GREEN for Oversold.
As seen in the screenshot below, with all three labels turned on under the input settings (these are ON by default) you can see the overbought condition, the current RSI Value, and current price all in one centralized area. Oversold Values are also plotted when turned on under the input settings.
As shown in the screenshot below, the candle is GREEN (as evident by the green candle outline) but the RSI Value is low and shows lower than average relative strength. This turns the bar color ORANGE vs, GREEN showing that the relative strength of the move is subpar.
As shown on the screenshot below, if the trader has the standard Tradingview Price label switched on (in the Tradingview Chart Settings), the color of the bar is also translated to the price are for an easy to recognize RSI Value just by looking at the price. Even if the current candle is RED, when the RSI is higher than lower, the color will be green / greenish and even if the current candle is GREEN, when the RSI Value is lower than higher, the color will be red-ish / orange in color giving the user a quick view of RSI Value.
If you have any questions or feature requests for this Indicator please do not hesitate to reach out and ask.
GOOD LUCK trading!!
~nnamdert
The Perfect Support & ResistanceSupport & Resistance drawn based on overbought & oversold RSI . where the overbought acts as resistance and oversold acts as support.
It has 2 levels (for support and resistance - i call them level_n_high or level_n_low) for each lookback period. it checks the highest pivot and the lowest pivot based on the lookback period then we compare if rsi is higher than the highest pivot or the lowest pivot and we also check if rsi is overbought or oversold and if the statement is true, then we assign the high to the variable level_n_high or level_n_low. n being the number of levels. in total there are 5 levels with both high & low for 5 lookback periods. This is basically how the code works.
these levels can be accessed at any timeframe. the defaults are 5m and 30m.
RSI settings: (default)
-------------------
length - 14
source - close
overbought - 70
oversold - 30
lookback settings: (default)
---------------------
lookback_0 - 200
lookback_1 - 100
lookback_2 - 50
lookback_3 - 20
lookback_4 - 10
Timeframe Settings: (default)
-------------------
htf1 - 5m
htf2 - 30m
Enjoy!
Multi Timeframe Stochastic RSI ScreenerThis script is also a Stochastic RSI Screener, but it allows users to choose one specific symbol and three timeframes of that symbol to monitor at once.
Reinforced RSI - The Quant Science This strategy was designed and written with the goal of showing and motivating the community how to integrate our 'Probabilities' module with their own script.
We have recreated one of the simplest strategies used by many traders. The strategy only trades long and uses the overbought and oversold levels on the RSI indicator.
We added stop losses and take profits to offer more dynamism to the strategy. Then the 'Probabilities' module was integrated to create a probabilistic reinforcement on each trade.
Specifically, each trade is executed, only if the past probabilities of making a profitable trade is greater than or equal to 51%. This greatly increased the performance of the strategy by avoiding possible bad trades.
The backtesting was calculated on the NASDAQ:TSLA , on 15 minutes timeframe.
The strategy works on Tesla using the following parameters:
1. Lenght: 13
2. Oversold: 40
3. Overbought: 70
4. Lookback: 50
5. Take profit: 3%
6. Stop loss: 3%
Time period: January 2021 to date.
Our Probabilities Module, used in the strategy example:
